ThomasM125
Expert Alumni

Business & farm

Line 7 on form 8582 lists your modified adjusted gross income, while line 11 on form 1040 lists your adjusted gross income. So, line 7 starts with your adjusted gross income and modifies it by excluding a number of things, including the taxable amount of social security benefits, IRA contributions, and the deduction for self-employment taxes. You can see the full list of adjustments by reading the instructions for line 7 of form 8582 as follows:

 

https://www.irs.gov/instructions/i8582

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